Unilever has named Srinivas Phatak as its new chief financial officer, following a full internal and external search.

The consumer goods giant revealed Phatak, who has been acting CFO since February 2025, is to take on the role with immediate effect, and joins the Unilever board and leadership executive.

Unilever CEO Fernando Fernandez said: “Srinivas has been a great partner over the last six months as acting CFO and over many years as part of the Unilever leadership team. He brings financial rigour, strategic clarity, and a sharp eye for value creation.”

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Phatak has been with the group for several years in senior finance roles and is also an independent non-executive director at Coats Group. His pay package includes a fixed salary of €1.175m, plus bonus and share awards under Unilever’s existing remuneration policy.

Unilever said the appointment will support its drive for consistent volume growth, margin expansion and stronger execution across markets.

The appointment also follows the previous chief financial officer, Fernandez, stepping into the role of chief executive in March, as a replacement for Hein Schumacher, who’s swift exit was described by the board as a “mutual agreement”. This was despite widely circulated reported that the CEO had been “ousted”.